a.i & blockchain

capgemini and swift partnered in examining cbdc

Central bank digital currency (cbdc) payments across international borders are being examined by swift and capgemini. most central banks worldwide are actively working on developing cbdcs, and this trend is expected to continue.

there has been an announcement by the corporation indicating that it is working on an intercept, translation, and transmission gateway for domestic cbdc networks to the swift platform. swift’s infrastructure, authentication mechanisms, and standards will be used in the new system. swift connects more than 11,000 financial institutions in more than 200 countries.

as of last year, swift handled an average of 42 million communications each day. on the other hand, completing transactions on the network may take many days. ripple may be able to help cbdcs communicate with one another beyond the traditional grid (xrp).

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